Furiex Pharmaceuticals Inc (NASDAQ:FURX) The Rising Star
Furiex Pharmaceuticals Inc (NASDAQ:FURX) stock jumped up by a huge 118 percent during premarket trading today on the back of its announcement of positive updates from its Phase 3 clinical trial for its target drug “eluxadoline”.
The Morrisville, NC based drug maker has initiated the pivotal phase 3 trials to demonstrate the efficacy and safety aspects of its drug candidate in treating irritable bowel syndrome which is bordering on diarrhea. Today morning Furiex Pharmaceuticals Inc (NASDAQ:FURX) reported that the end point results from the trials met and exceeded the bench marks previously mandated by the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA).
FDA and EMA End Points Met
The end points being measured in these phase 3 tests was any appreciable improvements in the response of the patients administered with eluxadoline, with respect to stool consistency and the decrease in abdominal pain they suffered. The drug firm noted that the data from the tests are concurrent with the draft guidelines issued by both the U.S and European drug authorities for treating irritable bowel syndrome.
Fast Paced Development Cycle
Expressing his happiness about fast paced development effort, Furiex Pharmaceuticals Inc (NASDAQ:FURX) Founder Chairman Fred Eshelman has been quoted to have said that, “ I am very pleased with the strength of the data, and proud of our team for its hard work and excellent development of eluxadoline. In just under four years, working closely with regulatory authorities, the team has completed nine Phase I studies, a Phase II dose-ranging trial in approximately 800 patients, and these two large Phase III trials.” The Chairman also highlighted that all the toxicology related studies pertaining to the target drug has been completed on a parallel track and has set second quarter of this year to file a full fledged New Drug Application which will include supporting data from its chemistry and manufacturing teams.
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